Image of the pink square with a house and a dollar-sign

Mortgage Qualifier Tool

This calculator helps you determine whether or not you can qualify for a home mortgage based on income and expenses.

Note: On February 15, 2016, the minimum down payment for new insured mortgages increased from 5% to 10% for the portion of the house price above $500,000. The 5% minimum down payment for properties up to $500,000 remained unchanged.

Property Information
  
 
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Your Income and Anticipated Expenses
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Note: If your down payment is less than 20%, you will have to qualify for a mortgage based on the 5 year fixed rate, even if you are planning to choose a shorter term with a lower interest rate.



We offer this mortgage calculator as a self-help tool for your use. This tool does not replace professional financial advice. We cannot guarantee that this calculator will apply or be accurate in your situation. For example, your mortgage lender may make its calculations in a different way. All calculations are examples only.